Mortgage Advice Bureau is deploying a new digital assessment tool across its broker network to help advisers better identify and support vulnerable customers.

The Financial Vulnerability Assessment Tool, created by duty of care specialist Comentis, will be rolled out in August following a successful four-month pilot.

The initiative is part of MAB’s broader strategy to strengthen its response to the Financial Conduct Authority’s Consumer Duty requirements and maintain its position among UK mortgage intermediaries.

According to MAB, the tool provides advisers with consistent, data-driven insights into customers’ personal circumstances, enabling them to deliver more tailored and appropriate advice. It also empowers customers to share relevant information digitally, contributing to more accurate and reliable assessments.

The move follows increased regulatory scrutiny around how the mortgage sector supports vulnerable individuals, particularly with regard to early identification and evidencing of support.

FRAMEWORK

Comentis’s software uses a structured, clinically developed framework to assist brokers in this task, with the aim of standardising the identification process across firms and improving outcomes.

“We’re excited to be implementing the Comentis tool across MAB,” said Paul Gill, group chief risk officer at Mortgage Advice Bureau.

“This development is key to helping MAB ensure we continue to meet the Consumer Duty requirements. It’s also testament to how we’re adapting the way in which we better support both customers and advisers, particularly when it comes to identifying vulnerability.”

Jonathan Barrett, chief executive at Comentis, welcomed the collaboration: “Following a successful trial, we’re delighted to be supporting Mortgage Advice Bureau with the implementation of our tool.

“The mortgage sector has a vital role to play in safeguarding vulnerable customers, particularly as regulatory focus continues to increase, especially around identification, support and data.

“Implementation of this tool is a significant step forward in ensuring mortgage intermediaries meet these crucial obligations, ensuring that vulnerable customers receive the support they need and deserve.”